Solar Philippines invests $200M to power malls, buildings

Solar Philippines aims to invest about $200 million to generate 100 megawatts of electricity from the installation of solar panels on buildings and malls the will include those owned by Ayala Land Inc. and DoubleDragon Properties Corporation.

Leviste

In an interview during the inauguration of the solar panels the firm installed in Robinsons Place Palawan, Solar Philippines President Leandro Leviste said they will be financing the construction of these rooftop solar panels and sell power to the grid.

“We’re financing it. The mall owners don’t have to shell out cash,” Leviste said adding that Robinsons Land Corporation is the only exception since the firm is paying for its solar panels and their malls will use the power generated.

Solar Philippines recently teamed up with SM Prime Holdings Inc. for the installation of solar panels in SM City North EDSA. In this case, Leviste said the mall will pay Solar Philippines for power they consume while any excess will be sold to the grid.

“Apart from Robinsons and SM, we’ve been awarded projects with Ayala Land and DoubleDragon. Solar power is really hot these days. Everyone wants one, and everyone is trying to see how they can integrate solar into their developments,” said Leviste.

For Ayala Land, he said they are now in the planning stage for the solar panels to be installed in the firm’s Marquee Mall in Pampanga.

On the other hand, DoubleDragon is tapping Solar Philippines to install solar panels in all of the 100 Citymalls it is planning to open nationwide. Leviste said they will start with 20 Citymalls this year, with each having a generating capacity of about 600 kilowatts.

“We have finished the first Citymall project in Capiz which has a capacity of 568 KW. All of their branches will be solar-powered,” he said.

Solar Philippines is currently generating a total of 7MW from various solar panel installations and is developing a 40 MW solar farm in Calatagan Batangas. A bigger solar farm is also being planned.

“We have a total of more than 10 service contracts. Mostly in industrial parks and malls in major cities,” said Leviste adding that they will soon announced a solar farm partnership with a publicly listed local company.

Leviste said “they will be our partner investor. They’re providing the cash and we will have 50-50 ownership of the project.”